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NO.  94 


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Author: 


Newton,  Roy  Lee 


Title: 


A  system  of  accounts  for 
cotton  warehouses 

Place: 

Washington,  D.C. 

Date: 

1917 


MASTER   NEGATIVE  * 


COLUMBIA  UNIVERSITY  LIBRARIES 
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BIBLIOGRAPHIC  MICROFORM  TARGET 


ORIGINAL  MATERIAL  AS  FILMED  -    EXISTING  BIBLIOGRAPHIC  RECORD 


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Newton,  Roy  Lee. 

A  system  of  accounts  for  cotton  warehouses.  By  Roy 
L.  Newton  ...  and  John  R.  Humphrey  ...  Washington, 
Govt,  print,  off.,  1917. 

cover-title,  31,  ilj  p.    2Z^.    (U.  S.    Dept.  of  agriculture.    Bulletin  no. 
Contribution  from  the  Office  of  markets  and  rural  organization. 


1.  Bookkeeping.   2.  Cotton— tStoragei    3.  Warehouses.       i.  Humphrey, 
hn  Refirester.  mint  anthnr     tt  Tifl«        — »  .  ^* 


John  Regester,  joint  author,    ii.  Title. 


Library,  U  S.  Dept.  of 


Agr  17-609 
Agriculture    lAg84B    no.  520 


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SYSTEM  OF  flCCnUMTS 

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UNITED  STATES  DEPARTMENT  OF  AGRICtJLTURE 

BULLETIN  No.  520 

Gontribution  from  the  Office  of  Markets  and  Rural  Organization 
^  "  CHARLES  J.  BRAND.  Chief 


Washington,  D.  C. 


June  26, 1917 


ii.t 


i 

^ 


A  SYSTEM  OF  ACCOUNTS  FOR 

COTTON  WAREHOUSES 

LIBRARY 
SCHOOL  O*"  BUSINESS 

ROY  L.  NEWTON,  Assistant  in  Warehouse  Investigations 

and  JOHN  R.  HUMPHREY,  Investigator  in 

Market  Business  Practice 


CONTENTS 


Introduction    .  •.    .    .    . 
Description  of  the  System 
Operation  of  the  System 


Page 
1 
2 

,      11 


^  Page 

Arrangement  of  Bales  in  tlie  Warelumse      13 

Conclusion.      ..o*a..ae.*         U 


WASHINGTON 

GOVERNMENT  PRINTING  OFFICE 

1917 


^ 


UNITED  STATES  DEPARTMENT  OF  AGRICULTURE 


BULLETIN  No.  520 

Contribution  from  the  Office  of  Markets  and  Rural 
Orsanization,  CHARLES  J.  BRAND,  Chief 


Washington,  D.  C. 


June  26, 1917 


A  SYSTEM  OF    ACCOUNTS  FOR  COTTON  WARE 

HOUSES. 

By  Roy  L.  Newton,   Assistant  in   Warehouse  Investigations,  and 
John  R.  Humphrey,  Investigator  in  Market  Bitsiness  Practice. 


CONTENTS. 


rage. 

Introduction l 

Description  of  the  system 2 

The  tag 2 

The  certificate  of  inspection 3 

The  warehouse  receipt 4 

The  consecutive  tag  record 7 

The  individual  account  record 7 

The  location  book 8 

The  out-turn  order 8 


Page. 
Description  of  the  system— Continued. 

The  daily  report 9 

Cash  journal 9 

Cash  disbursement  ticket 11 

Cash  receipt  ticket 11 

Sale  ticket 11 

Operation  of  the  system 11 

Arrangement  of  bales  in  the  warehouse 13 

Conclusion 13 


m\ 


f      . 


INTRODUCTION. 

The  warehouse  receives  cotton  for  the  account  of  another  party, 
provides  the  owner  with  a  proper  place  for  conserving  his  product, 
and  gives  its  receipt  as  evidence  that  the  cotton  has  been  stored. 
Upon  the  integrity  and  financial  standing  of  the  warehouse  which 
issues  this  receipt  depends  the  value  of  the  receipt,  and  it  should  be 
the  desire  and  aim  of  every  warehouseman  to  give  his  receipt  its 
utmost  value. 

The  efficiency  of  a  cotton  warehouse  depends  in  a  very  lai^e  degree 
upon  its  methods  of  keeping  accoxmts  and  records  of  its  transactions. 
The  general  use  of  a  simple,  concise  system  of  accounts,  compre- 
hensive enough  to  fill  the  needs  of  the  larger  as  well  as  of  the  small 
warehouse,  would  be  a  step  toward  the  adoption  of  a  standardized 
system  of  cotton-warehouse  accounting. 

To  attempt  to  fill  the  need  for  a  satisfactory  system  of  accoxmts 
capable  of  general  use,  to  suggest  forms  of  warehouse  receipts  which 

Note.— This  bulletin  should  be  of  special  interest  to  all  cotton  warehousemen  and  of  g^ieral  interest  to 
their  patrons  and  to  those  who  are  concerned  in  the  reliability  of  warehouse  receipts. 

72961'— BuU.  520—17 1 


I 


1 


2  BULLETIN  520,  U.  S.  DEPAETMENT  OF  AGBICULTUBE. 

can  be  recommended  for  the  use  of  cotton  warehouses,  and  to  promote 
the  general  use  of  uniform  receipts  are  the  aims  of  tWs  bulletin  It 
describes  a  simple  system  of  accounts  for  the  use  of  cotton  ware- 
houses, which  will  be  found  comprehensive  enough  to  meet  the 
reqmremonts  of  any  organization  which  does  only  a  cotton  ware- 
housmg  business.'  A  complete  set  of  forms  is  shown  and  their  use 
explained.  Jlore  complex  organizations,  such  as  compresses  which 
conduct  a  warehouse  business  or  warehouses  that  mamtain  various 
other  departments,  of  necessity  will  be  compeUed  to  enlarge  upon  a 
system  of  this  character,  but  an  effort  has  been  made  to  have  the 
pnmary  ideas  practicable  even  for  such  oi^anizations.  The  best  fea- 
tures of  the  systems  afready  in  use  have  been  combined  into  this 
system  which  has  been  tried  out  under  commercial  conditions 

bunphcity  m  any  system  of  accounts  is  desirable,  so  that  rapidity 
m  handhng  maybe  attained  without  sacrificing  accuracy  and  the 
plan  must  be  such  that  any  data  desired  are  quickly  avaUable 
Information  may  be  needed  in  regard  to  a  certain  lot  of  cotton  or  a 
certam  outstanding  receipt;  about  a  specific  bale  in  a  remote  comer 
of  the  warehouse  or  the  exact  number  of  bales  a  certain  patron  may 
have  m  storage.  The  records  should  be  such  that  any  one  or  aU 
of  these  mqumes  may  be  answered  immediately.  All  of  the  forms 
used  should  be  mterlocking,  so  that  if  one  fact  is  known  full  particu- 
lars may  be  obtamed  by  a  reference  to  that  fact. 

DESCRIPTION  OF  THE  SYSTEM. 

As  this  bulletin  is  mtended  to  be  sufficiently  complete  to  enable  a 
warehouseman  to  install  the  system,  a  detaOed  description  of  the 
forms  comprising  it  is  essential.  The  complete  system  includes  the 
foUowmg  twelve  forms,  which  will  be  described  in  the  order  of  their 
use: 

(1)  The  tag;  (2)  the  certificate  of  inspection;  (3)  A,  B  C  D  or 
E),  the  warehouse  receipt;  (4)  the  consecutive  tag  record'-  (5)  the 
mdmdual  account  record;  (6)  the  location  book;  (7)  the  outturn 
order;  (8)  the  daUy  report;  (9)  the  cash  journal;  (10)  the  cash  dis- 
bursement ticket;  (11)  the  cash  receipt  ticket;  (12)  the  sale  ticket. 

THE  TAG. 

Various  methods  are  in  use  in  cotton  warehouses  for  the  identifi- 
cation of  the  bales,  but  by  far  the  most  successful,  and  the  one  most 
generaUy  used,  is  that  of  the  numbered  tag,  supplemented  by  a  record 
of  the  owner^s  private  mark.  Form  1  (page  14)  shows  a  form  of  tag 
that  IS  recommended.  In  every  instance  the  tag  should  be  made  of 
reasonably  heavy  waterproof  paper  or  of  linen.    Double  eyelets  with 

JMaiiy  warehousemen  doing  a  small  business  find  it  convenient  and  profitable  to  deal  in  various  com 

^^l^  ^^^  *.^'f '^'  ^'^  ''"""^^^'  ^'*^«°  *^«^«  i^  ^^«1«  ^^^^^  for  storage      For  th^  i^^n  '   "1" 
sion  has  been  made  for  this  class  of  business  in  the  system  of  accounts  described  hefeta  ^ 


A  SYSTEM   OF   ACCOUNTS  FOR  COTTON   WAREHOUSES.  3 

an  extra  reinforcement  strip  are  desirable,  and  a  double  flexible  wire, 
preferably  copper,  for  attaching  the  tag  will  give  the  best  results. 
The  tags  should  be  numbered  consecutively  and  used  in  numerical 
sequence  throughout  the  season. 

The  selection  of  the  tag  to  be  used  should  be  made  with  great  care, 
as  it  is  to  become  the  principal  means  of  identification  of  the  cotton 
when  the  bale  is  in  the  warehouse.  A  tag  of  poor  quahty,  improperly 
fastened  to  the  bale  with  a  single  small  steel  wire,  may  be  easily  pulled 
or  rubbed' off  the  bale  in  handling  or  lost  by  the  rusting  of  the 
wire.  Numerous  instances  have  occurred  where  the  tag,  even  when 
securely  fastened  to  the  bale  with  a  single  small  steel  wire,  has  been 
twisted  off  bv  the  action  of  the  wind.  Much  trouble  is  caused  by 
such  a  loss,  especially  if  more  than  one  bale  is  affected. 

In  order  to  provide  against  this  contingency  it  is  recommended  to 
the  warehouseman  that  he  invariably  take  an  accurate  record  of 
the  customer's  private  marks  that  appear  on  the  bale.  This  record 
wiU  be  of  great  assistance  when  it  becomes  necessary  to  estabHsh  the 
identity  of  the  cotton. 

Attention  is  called  to  the  double  eyelets  and  the  extra  reinforcing 
strip  on  the  tag.  These  features  make  it  especially  desirable,  for  it 
is  possible  to  tear  the  greater  part  of  the  tag  away  and  still  leave  be- 
tween the  wires  this  strip  which  contains  the  number  and  thus  serves 
the  chief  purpose  of  the  tag. 

It  is  advisable  to  have  the  tag  made  with  the  detachable  coupon 
(see  Form  1),  especially  when  the  warehouse  furnishes  a  sample  from 
the  bale,  as  the  coupon,  which  should  be  numbered  to  agree  with  the 
tag,  may  then  be  torn  off,  and  placed  inside  the  sample  to  identify  it. 
Some  warehousemen  furnish  a  sample  to  the  customer,  and  retain 
one  at  the  warehouse.  Where  this  is  done  the  tag  should  have  two 
coupons. 

THE  CERTIFICATE  OF  INSPECTION. 

The  certificate  of  inspection,  (Form  2,  page  15,)  is  a  signed  certificate 
from  the  weigher  and  grader,  showing  that  he  has  tagged,  weighed, 
graded,  and  inspected  the  bale  or  bales  of  cotton.  On  it  is  to  be 
detailed  the  following  data : 

(1)  The  depositor's  name  and  address;  (2)  the  tag  number;  (3)  the 
owner's  marks;  (4)  the  weight;  (5)  the  grade;  (6)  the  standard  of 
classification  used;  (7)  the  length  of  staple;  (8)  the  condition  of  the 
cotton;  (9)  the  signature  of  the  weigher  and  grader. 

The  sheets  should  be  arranged  in  pads  in  order  that  a  carbon  copy 
of  each  certificate  may  be  made.  The  lines  of  the  forms  in  the  "tag 
no."  column  may  be  nxmibered  in  advance  with  at  least  the  last 
numeral  of  the  tag  numbers,  in  consecutive  order.  This  wiU  f acihtate 
the  filling  in  of  the  tag  numbers  and  will  secure  numerical  sequence. 
Attention  is  here  called  to  the  fact  that  the  certificate  is  not  the  ware- 
house receipt,  and  should  not  be  used  as  such.    However,  it  may  be 


4  BULLETIN  520,  U.  S.  DEPARTMENT   OF  AGRICULTURE. 

given  to  the  depositor,  in  addition  to  the  receipt,  as  iiis  private  memo- 
randum. Often  it  is  not  possible  to  weigh  or  grade  the  cotton  imme- 
diately upon  its  arrival  at  the  warehouse,  and  the  owner  may  be 
imwilling  to  wait  for  his  receipt  until  this  is  done.  In  this  event  the 
certificate  may  be  issued  subsequently,  and  the  original  attached  to 
the  receipt.  The  carbon  copy  of  the  certificate  is  to  be  used  only  as  a 
record  of  the  warehouse,  and  is  for  the  information  of  the  ofl&cer  writ- 
ing the  receipt,  who  after  noting  upon  it^  in  the  place  provided  for  that 
purpose,  the  nimibers  of  the  receipts  which  cover  the  cotton  listed 
upon  it,  files  it  away,  in  numerical  order. 

A  convenient  size  for  the  certificate  is  7  by  9  f  inches  with  J -inch 
ruling. 

THE  WAREHOUSE  RECEIPT. 

Many  forms  of  receipts  are  in  use  in  cotton  warehouses,  and  no 
attempt  is  made  to  give  forms  here  that  would  conform  to  the  ideas 
of  all  warehousemen.  The  receipts  shown  embody  all  of  the  require- 
ments of  the  United  States  warehouse  Act,  which  is  especially  de- 
signed to  increase  the  value  of  the  warehouse  receipt  as  collateral, 
with  the  exception  of  the  statement  that  the  receipt  is  issued  subject 
to  the  United  States  warehouse  Act  and  other  special  terms  or  con- 
ditions which  might  be  required  by  the  Secretary  of  Agriculture  for 
the  purposes  of  that  act,  which  would  of  course  be  required  only  on 
receipts  issued  by  warehouses  hcensed  thereunder.  The  terms  and 
conditions  of  receipts  required  by  the  Uniform  Warehouse  Receipts 
Act,  which  has  been  adopted  by  32  States,  Alaska,  the  District  of 
Columbia,  and  the  Philippine  Islands,  are  substantially  the  same 
as  those  of  the  United  States  warehouse  Act,  except  that  the  latter 
adds  somewhat  to  the  requirements  embodied  in  the  former. 

The  following  data  are  required  in  the  issuance  of  warehouse  receipts, 
xmder  the  United  States  warehouse  Act  and  must  be  embodied  within 
the  written  or  printed  terms  of  such  receipts,  as  set  out  in  section  18 
of  the  act : 

(a)  The  location  of  the  warehouse  in  which  the  agricultural  products  are  stored. 
(6)  The  date  of  issue  of  the  receipt. 

(c)  The  consecutive  number  of  the  receipt. 

(d)  A  statement  whether  the  agricultural  products  received  will  be  delivered  to 
the  bearer,  to  a  specified  person,  or  to  a  specified  person  or  his  order. 

(e)  The  rate  of  storage  charges. 

(/)  A  description  of  the  agricultural  products  received,  showing  the  quantity 
thereof,  or,  in  case  of  agricultural  products  customarily  put  up  in  bales  or  packages, 
a  description  of  such  bales  or  packages  by  marks,  numbers,  or  other  means  of  iden* 
tification,  and  the  weight  of  such  bales  or  packages. 

(g)  The  grade  or  other  class  of  the  agricultural  products  received  and  the  stand- 
ard or  description  in  accordance  with  which  such  classification  has  been  made:  Pro- 
vided, That  such  grade  or  other  class  shall  be  stated  according  to  the  official  standard 
of  the  United  States  applicable  to  such  agricultural  products  as  the  same  may  be 
fixed  and  promulgated  imder  authority  of  law. 


A  SYSTEM   OF  ACCOUNTS  FOR  COTTON   WAREHOUSES.  5 

'!i)  A  statement  that  the  receipt  is  issued  subject  to  the  United  States  warehouse 
Act  and  the  rules  and  regulations  prescribed  thereunder. 

(i)  If  the  receipt  be  issued  for  agricultural  products  of  which  the  warehouseman  is 
owner,  either  solely  or  jointly  or  in  conunon  with  others,  the  fact  of  such  ownership. 

(j)  A  statement  of  the  amount  of  advances  made  and  of  liabilities  incurred  for 
which  the  warehouseman  claims  a  lien:  Provided,  That  if  the  precise  amount  of  such 
advances  made  or  of  such  liabilities  inciured  be  at  the  time  of  the  issue  of  the  receipt 
unknown  to  the  warehouseman  or  his  agent  who  issues  it,  a  stateipient  of  the  fact  that 
advances  have  been  made  or  liabilities  incurred  and  the  purpose  thereof  shall  be 
sufficient. 

{k)  Such  other  terms  and  conditions  within  the  limitations  of  this  act  as  may  be 
required  by  the  Secretary  of  Agriculture. 

(l)  The  signature  of  the  warehouseman,  which  may  be  made  by  his  authorized 
agent:  Provided,  That  unless  otherwise  required  by  the  law  of  the  State  in  which 
the  warehouse  is  located,  when  requested  by  the  depositor  of  other  than  fungible 
agricultiual  products,  a  receipt  omitting  compliance  with  subdivision  (g)  of  this 
section  may  be  issued  if  it  have  plainly  and  conspicuously  embodied  in  its  written 
or  printed  terms  a  provision  that  such  receipt  is  not  negotiable. 

Compliance  with  all  of  the  conditions  of  receipts  issued  xmder  the 
United  States  warehouse  Act  is  not  obhgatory  unless  warehousemen 
operate  imder  that  law. 

Either  a  negotiable  or  a  nonnegotiable  receipt  may  be  issued  and 
it  may  be  well  to  explain  the  two  types.  A  negotiable  receipt  must 
state  either  that  the  goods  received  will  be  dehvered  to  the  bearer, 
or  that  they  will  be  dehvered  to  a  specified  person  or  his  order. 
A  receipt  in  which  it  is  stated,  either  that  the  goods  received  will  be 
dehvered  to  the  depositor  only,  or  that  they  will  be  dehvered  only  to  a 
specified  person  named  in  the  receipt,  is  not  negotiable. 

A  nonnegotiable  receipt  should  always  bear  the  words  ''Non- 
negotiable"  or  ''Not  negotiable"  written  or  printed  upon  its  face. 
Form  3D  (page  21)  shows  a  form  of  nonnegotiable  receipt. 

In  the  case  of  a  lost  or  stolen  receipt,  if  another  is  issued,  the  word 
"Duphcate"  should  always  be  marked  across  its  face,  and  usually  a 
bond  is  required  in  order  to  protect  the  warehouseman  from  loss  in 
case  of  the  reappearance  of  the  original  receipt.  The  practice  in  this 
and  other  transactions  in  connection  with  the  receipt  necessarily 
must  vary  in  accordance  with  the  State  laws  on  the  subject,  and 
every  warehouseman  must  be  careful  to  comply  with  the  apphcable 
law  of  the  State  or  other  jurisdiction  in  which  he  operates. 

There  is  a  wide  variance  of  opinion  among  warehousemen  as  to 
the  relative  merits  of  the  one-bale  and  the  multiple-bale  forms  of 
warehouse  receipts.  The  tendency  in  many  of  the  well-organized 
warehouses  seems  to  be  toward  the  use  of  the  one-bale  receipt,  and 
in  most  cases  this  form  seems  to  be  preferable  to  the  multiple-bale 
form.  There  are  arguments  both  for  and  against  this  form.  The 
fact  that  the  one-bale  type  requires  more  work  in  its  issuance  is  bal- 
anced by  its  desirabihty  in  the  event  that  a  person  desires  to  sell  or 
transfer  only  one  or  a  few  bales  out  of  a  lot  that  would  otherwise  be 


6 


BULLETIN  520,  U.  S.  DEPAETMEKT  OF  AGEICULTUEE. 


i 


covered  by  a  single  receipt.  Also  the  issuance  of  a  separate  receipt  for 
each  and  every  bale  stored  gives  less  opportimityfor  altering  the  receipt. 

Form  3C  (page  19)  shows  a  form  of  multiple-bale  receipt.  There 
are  occasions  when  this  form  is  the  more  desu-able  than  the  one-bale 
type  of  receipt.  When  this  multiple-bale  form  of  receipt  is  used  the 
original  certificate  of  inspection  is  to  be  attached.  Form  3E  shows 
another  form  of  multiple-bale  receipt,  in  which  the  description  of  the 
bales  is  shown  on  the  face  of  the  receipt  rather  than  on  the  attached 
certificate  of  inspection. 

The  wording  of  the  receipt  in  regard  to  the  guaranty  of  the  grades, 
weights,  and  lengths  of  staple  may  be  altered  to  fit  the  practices  and 
policies  of  the  various  warehouses  by  which  they  are  issued.  How- 
ever, the  nearer  the  wording  approximates  an  absolute  guarantee  of 
these  quahties  by  the  warehouse,  the  greater  will  be  the  value  of  the 
receipt.  While  it  is  true  that  warehouses  in  many  instances  attempt 
to  disclaim  responsibihty  for  the  descriptions  they  have  given  on  the 
receipt  it  must  be  remembered  that  the  persons  to  whom  the  re- 
ceipts may  be  transferred  should  be  protected  in  accepting  these 
descriptions. 

Many  warehousemen  guarantee  their  descriptions  at  least  within 
reasonable  variations,  while  some  guarantee  them  to  be  absolutely 
correct.  By  so  doing,  these  warehousemen  furnish  a  receipt  which  is 
most  acceptable  as  collateral.  In  some  instances,  a  special  charge 
is  made  for  this  guaranty,  usually  one-sixteenth  of  a  cent  per  pound 
on  the  cotton,  while  in  others  the  service  is  given  without  additional 
charge. 

All  receipts  should  be  bound  in  book  form,  preferably  100  to  the 
book,  numbered  consecutively,  and  arranged  so  as  to  allow  the 
making  of  a  carbon  copy.  This  carbon  copy  should  be  plainly  so 
marked,  and  should  be  used  only  for  the  purpose  of  record  in  the 
office.  Some  warehousemen  require  the  depositor  to  give  written 
acknowledgment  of  receipt  for  all  original  warehouse  receipts 
issued.  The  form  of  the  acknowledgment  may  be  printed  on  the 
face  of  the  carbon  copy  of  the  warehouse  receipt.  In  case  a  large 
number  of  warehouse  receipts  are  issued  to  one  person,  some  other 
method  of  acknowledging  receipt  may  be  used,  so  as  to  avoid  the 
inconvenience  of  a  large  number  of  signatures. 

Form  3B  (page  18)  shows  a  form  for  the  carbon  copy  of  the  nego- 
tiable receipt,  one-bale  type. 

Upon  the  return  of  the  warehouse  receipts  and  the  delivery  of 
the  cotton,  the  receipt  should  be  plainly  marked  "Canceled"  across 
its  face.  Canceled  receipts  should  be  safely  filed  away  by  a  system 
that  will  make  it  easy  to  refer  to  them  if  necessary.  Some  ware- 
housemen paste  them  back  into  their  original  places  in  the  books, 
which  makes  them  readily  accessible.    Others  place  them,  with  all 


A  SYSTEM   OF   ACCOUNTS  FOR  COTTON   WABEHOUSES.  7 

papers  in  connection  with  the  lot  of  cotton  they  represent,  in  an 
envelope,  which  is  filed.  Either  of  these  methods  is  satisfactory,  or 
the  warehouseman  may  select  any  convenient  method. 

THE  CONSECUTIVE  TAG  RECORD. 

After  the  receipt  is  written,  the  next  step  in  the  operation  of  the 
system  is  the  posting  of  the  desired  data  in  the  consecutive  tag  record. 
(See  Form  4,  page  24.)  This  form  is  printed  on  sheets  to  be  filed 
in  a  loose-leaf  binder.  The  fines  are  numbered  to  agree  with  the 
tag  numbers  used  by  the  warehouse,  in  consecutive  order  through- 
out. Thus  it  will  be  seen  that  when  this  book  is  posted  from  the 
data  shown  on  the  carbon  copy  of  the  receipt,  a  record  of  each  bale  is 
immediately  available,  because  of  the  consecutive  numbering  of  the 
individual  bales  as  identified  by  the  tag  numbers.  The  size  of  the 
sheets  should  be  8  by  15  inches  with  J-inch  ruling. 

The  following  information  is  given  in  the  consecutive  tag  record: 

(1)  The  tag  number;  (2)  the  marks  of  the  bale;  (3)  the  name  of 
depositor;  (4)  the  date  received;  (5)  the  receipt  number;  (6)  the 
location  in  the  warehouse;  (7)  the  date  of  dehvery. 

As  the  date  ot  the  dehvery  of  the  cotton  out  of  the  warehouse  is 
always  posted  in  the  '^Date-of-delivery"  column,  it  is  apparent  at  all 
times  just  which  bales  remain  in  storage. 

THE  INDIVIDUAL  ACCOUNT  RECORD. 

It  is  advisable  to  have  an  account  with  each  depositor,  and  this 
arrangement  will  be  found  to  be  useful  in  various  ways  as  explained 
below.  The  individual  account  record  (see  Form  5,  page  25)  also  is 
to  be  used  in  a  loose-leaf  binder.  The  accoimts  are  filed  alphabet- 
ically by  the  names  of  the  depositors,  alphabetical  index  sheets  being 
used  in  the  book,  and  the  data  for  posting  are  obtained  either  from 
the  carbon  copies  of  the  receipts  or  from  the  filed  copies  of  the  certifi- 
cates of  inspection.  The  sheets  should  be  8  by  15  inches  in  size  with 
l-inch  ruling  and  should  provide  for  the  following  data: 

(1)  The  date  of  receipt;  (2)  the  receipt  number;  (3)  the  weight; 
(4)  the  grade;  (5)  the  length  of  staple;  (6)  the  tag  number;  (7)  the 
date  of  dehvery;  (8)  the  number  of  months  in  storage;  (9)  the 
amounts  of  different  charges;  (10)  totals;  (11)  accrued  charges. 

The  principal  advantage  to  be  gained  by  the  use  of  this  form  is 
that  the  record  of  each  depositor's  cotton  is  concentrated  at  one 
place  on  the  books,  and  the  number  of  bales  on  hand  is  readily 
apparent.  This  point  will  be  appreciated  by  the  warehouseman 
who  deals  with  a  large  number  of  customers  who  are  constantly 
requesting  information  in  regard  to  small  lots  of  cotton  belonging  to 
them.  If  the  record  is  not  in  this  form  it  is  necessary  to  look  over  the 
entire  tag  record,  with  the  attendant  possibihty  of  mistakes.  In  addi- 
tion to  this  point,  if  the  totals  of  accrued  charges  are  brought  up  to  date 


8 


BULLETIN  520,  U.  S.  DEPARTMENT  OF  AGRICULTUKE. 


in  the  "Accrued  charges"  column,  the  monthly  earnings  of  the 
warehouse  are  always  in  view.  It  is  customary  for  the  warehouse 
company  to  carry  all  charges  until  the  cotton  is  taken  from  the  ware- 
house. Nevertheless  the  company  is  earning  revenue  during  the 
entire  time  that  the  cotton  is  in  store,  and  monthly  earnings 
should  be  ascertained.  With  all  of  the  other  charges  stated,  it  is 
necessary  only  to  compute  the  storage  and  insurance  from  the  basis 
rate,  to  total  the  amoimts,  and  to  enter  the  sum  in  the  colmnn  reserved 
for  the  month  desired,  which  accoimts  for  all  of  the  recorded  cotton 
remaining  at  the  time  on  the  page,  in  one  operation. 

The  five  forms  described  above  comprise  the  essentials  of  a  system 
of  cotton-warehouse  records,  but  the  location  book  and  the  other 
forms  described  below  will  be  found  to  be  of  great  value  when  used 
in  conjunction  as  auxiliary  forms. 

THE  LOCATION  BOOK. 

The  location  book,  a  page  of  which  is  shown  herewith  (see  Form  6, 
page  26),  is  designed  to  show  the  exact  location  of  each  bale  in  the 
warehouse,  and  its  use  will  greatly  facilitate  the  handling  of  cotton. 
Warehouses  which  are  composed  of  several  compartments  will  find 
its  use  especially  beneficial,  and  it  is  essential  in  the  smaller  ware- 
houses having  a  large  number  of  customers. 

In  houses  of  the  latter  class  there  are  frequent  requests  to  locate 
cotton  either  for  the  purpose  of  procuring  samples  or  for  turning  out 
of  the  warehouse.  When  the  bales  are  placed  in  the  compartment 
in  no  regular  order,  and  no  record  is  kept  of  their  location,  this 
service  usually  entails  long  search,  with  loss  of  valuable  time,  while 
with  a  properly  kept  location  book  the  difliculty  is  entirely  eUminated. 

If  a  tag  has  been  lost  from  a  bale  in  a  compartment,  the  book 
will  aid  in  identifying  the  bale.  A  reference  to  the  book  will  show 
what  bales  are  in  the  compartment  or  row,  and  by  checking  and 
ehminating  the  bales  foxmd  with  tags  it  is  a  comparatively  easy 
matter  to  determine  the  identity  of  the  bale  from  which  the  tag  has 
disappeared. 

All  changes  in  the  location  must  be  recorded,  and  it  is  advisable 
to  have  the  book  of  such  shape  (a  convenient  size  is  4  by  9J  inches) 
that  it  may  be  carried  by  the  '^outside"  man  at  all  times.  The 
hues  in  the  book  are  niunbered  consecutively  throughout  according  to 
the  tag  niunbers  in  use  by  the  warehouse,  and  the  sheets  are  ruled  to 
show,  besides  the  tag  number,  the  exact  location  as  to  house,  sec- 
tion, and  tier,  and  the  date  of  removal.  An  extra  column  is  provided 
for  any  change  which  may  be  made  in  location 

THE  OUT-TURN  ORDER. 

The  out-turn  order  (Form  7,  page  27)  is  a  signed  order  from  the 
office  to  the  "outside"  man  to  turn  out  and  dehver  from  the  ware- 


A  SYSTEM   OF  ACCOUNTS  FOR  COTTON   WAREHOUSES. 


9 


house  certain  bales  of  cotton.  This  order  is  not  written  until  the 
return  and  cancellation  of  the  receipt  and  the  apphcation  of  the 
depositor  or  the  holder  of  the  receipt  for  dehvery  of  his  cotton. 
The  tag  numbers  and  marks  of  the  bales  to  be  deUvered  are  hsted 
upon  the  order,  which  serves  as  a  checking  hst  by  which  the  ''out- 
side" man  may  check  put  the  cotton. 

A  form  of  receipt,  to  be  signed  by  the  party  receiving  the  cotton 
from  the  warehouse,  is  also  provided.  After  checking  out  the  cotton 
and  obtaining  the  signature  to  the  receipt,  the  "outside"  man  signs 
the  statement  that  the  work  has  been  done  as  ordered  and  returns 
the  order  to  the  office. 

The  accumulated  orders  should  be  held  until  the  close  of  the  day  in 
order  to  determine  the  number  of  bales  delivered  from  the  ware- 
house on  that  date  for  use  in  making  out  the  daily  report,  after  which 
they  may  be  filed  in  date  order  for  future  reference. 

A  convenient  size  for  these  sheets  is  6  by  8J  inches,  and  they 
should  be  arranged  in  gummed  pads. 

THE  BAILY  REPORT. 

Form  8  (page  28)  is  a  form  of  daily  report  for  the  use  of  managers 
of  warehouses.  By  keeping  this  record  properly  an  accurate  knowl- 
edge of  the  conditions  and  activities  of  the  warehouse  will  be  main- 
tained, and  the  manager  will  have  at  his  disposal  a  great  deal  of 
information  that  will  enable  him  to  conduct  the  business  more 
intelhgently.  He  will  know  from  day  to  day  the  amoimt  of  cotton 
in  store,  the  amoimt  of  insurance  that  it  is  necessary  to  carry,  the 
cost  of  labor,  the  per-bale  cost  of  handling,  the  daily  expenditures, 
and  the  cash  receipts. 

In  making  this  report  the  number  of  bales  received  by  the  ware- 
house is  determined  by  reference  to  the  "consecutive  tag  record," 
arid  the  "out-turn"  orders  of  each  day's  business  should  not  be  filed 
until  after  the  report  is  made,  so  that  the  number  of  bales  turned 
out  of  the  warehouse  may  be  ascertained.  If  the  totals  are  carried 
forward  from  day  to  day,  the  difference  between  the  in  and  out  col- 
umns should  be  the  number  of  bales  in  the  warehouse,  any  excep- 
tions being  provided  for.  The  insurance  report  and  the  labor,  col- 
lections and  disbursements  records  are  self-explanatory. 

A  convenient  size  for  the  daily  report  sheet  is  8  by  lOJ  inches. 

CASH  JOURNAL. 

The  cash  journal  (Form  9,  pages  29  and  30)  is  provided  for  the  pur- 
pose of  recording  the  charges  and  credits  which  are  later  to  be  posted 
to  the  various  accounts  in  the  ledger.  This  form  is  used  as  a  double 
page,  the  charges  being  in  columns  to  the  left  of  "  Items"  column  and 
the  credits  in  columns  to  the  right. 

72961°— BulL  520—17 2 


10 


BULLETIN  520.  U.  S.  DEPARTMENT  OF  AGRICULTUBE. 


The  debit  columns  of  this  form  are  designated  as  follows: 


Folio. 
Cash. 
Bank  deposits. 


General  ledger. 
Accounts  receivable. 
Miscellaneous  expenses. 


Grading. 

Weighing. 

Insurance^ 


In  the  "cash''  column  are  recorded  all  the  receipts  of  cash  as 
they  occur.  The  total  is  deposited  when  convenient  and  entered 
in  the  "bank  deposits''  column  in  the  exact  amount  of  the  deposits 
made.  At  the  end  of  the  month  the  "bank  deposits"  column  will 
furnish  an  itemized  statement  of  the  deposits  and  will  give  a  record 
of  the  total  receipts  for  the  period.  The  deposits  plus  the  cash 
balance  from  the  previous  month,  which  should  be  entered  at  the 
head  of  the  "bank  deposits"  column,  constitute  the  total  debit  to 
cash  for  the  month.  The  most  satisfactory  method  is  to  require  a 
statement  of  accoimt  from  the  bank  at  the  end  of  each  month  and 
to  reconcile  the  cash  to  that  statement. 

When  it  is  necessary  to  pay  small  items  of  expense  in  cash,  a  check 
should  be  drawn  to  "petty  cash"  in  order  to  establish  a  fund  out 
of  which  such  payments  can  be  made.  This  amount  should  be 
charged  to  "petty  cash"  account  in  the  ledger.  At  the  end  of  the 
month  the  total  amoimt  of  such  expenditures  should  be  credited  to 
"petty  cash,"  and  be  charged  to  the  proper  expense  accoimts.  At 
the  beginning  of  the  next  month  the  fund  can  be  renewed  by  drawing 
a  check  to  "petty  cash"  for  the  amount  of  the  previous  month's 
expenditures. 

All  entries  of  general  accounts  not  classified  under  separate  head- 
ings should  be  carried  in  the  "general  ledger"  column  and  should 
be  posted  to  their  respective  accounts  in  the  ledger  from  that  column. 
Charges  to  customers  for  services  or  material  should  be  entered  in 
the  "accoimts  receivable"  column  and  be  posted  to  the  customers' 
accounts  in  the  ledger. 

Under  "Miscellaneous  expenses"  should  be  entered  all  items  not 
otherwise  classified. 

In  order  that  the  warehouse  may  know  its  position  in  regard  to 
weighing,  grading,  and  insurance,  these  items  are  carried  imder 
separate  headings  and  the  totals  are  posted  to  these  accounts  at  the 
end  of  each  month. 

The  credit  columns  are  designated  as  follows: 


Folio. 
Check  No. 
Bank  withdrawals. 
General  ledger. 


Accounts  receivabh?. 

Weighing. 

Grading. 


Storage. 

Insurance. 

Miscellaneous. 


A  SYSTEM  OF  ACCOUNTS  FOR  COTTON   WAREHOUSES. 


11 


All  checks  issued  should  be  listed  by  their  numbers  in  the  "check 
no."  ooliman  and  the  amounts  entered  in  the  "bank  withdrawals" 
column. 

The  difference  between  the  totals  of  the  "bank  deposits"  column 
and  the  "  bank  withdrawals "  column  is  the  available  balance  of  cash 
in  bank. 

The  "general  ledger"  column  is  used  for  the  purpose  of  crediting 
the  accounts  debited  through  the  "general  ledger"  debit  colunm. 

All  payments  on  accounts  receivable  are  entered  in  the  "  accounts 
receivable"  column  and  from  there  posted  to  the  credit  of  the  proper 
individual  accoimts  in  the  ledger. 

The  columns  headed  "weighing,"  "grading,"  "storage,"  and  "in- 
surance" receive  credits  to  these  accounts,  the  totals  for  the  month 
or  other  period  being  posted  to  the  respective  accounts  in  the  ledger. 

Miscellaneous  credits  are  entered  in  and  posted  from  the  "  miscella- 
neous" column,  and  sales  of  material  can  be  credited  in  the  blank 
columns  at  the  right  under  their  appropriate  headings.  The  monthly 
totals  of  these  columns  are  then  posted  to  their  respective  accounts 
in  the  ledger. 

The  size  of  this  form  should  be  11  by  14  inches  with  i-inch  ruling. 

THE  CASH  DISBURSEMENT  TICKET. 

All  expenditures  of  petty  cash  should  be  recorded  on  "cash  dis- 
bursement" tickets  (Form  10,  page  31)  which  should  be  kept  as  petty 
cash  vouchers. 

THE  CASH  RECEIPT  TICKET. 

All  receipts  of  money  other  than  checks  should  be  recorded  upon 
a  "cash  receipt"  ticket  (Form  11,  page  31).  The  practice  of  receiv- 
ing scrip  or  coin  without  making  a  record  of  the  transaction  at  the 
time  of  receipt  often  leads  to  discrepancies  which  are  difficult  to 
account  for  later. 

THE  SALE  TICKET. 

In  warehouses  handhng  suppUes,  all  sales  should  be  recorded  on 
duplicate  sale  tickets,  the  originals  being  given  to  the  customers  and 
the  duphcates  retained  for  record  in  the  books  of  account. 

These  sale  tickets  are  similar  to  those  used  in  any  merchandising 
business  and  can  be  either  printed  specially  or  secured  in  stock  form. 
Form  12  (page  31),  is  a  form  of  sale  ticket  suitable  for  general  use. 

OPERATION  OF  THE  SYSTEM. 

In  order  to  explain  fully  the  operation  of  the  system  it  may  be 
well  to  follow  the  various  steps  as  they  occur  in  the  process  of  ware- 
housing a  lot  of  cotton. 


't 


!l 


BULLETIN  520,  XJ.  S.  DEPARTMENT   OF  AGRICULTUBE. 


A  SYSTEM   OF  ACCOUNTS  FOR  COTTON   WAREHOUSES. 


13 


When  the  cotton  arrives  at  the  warehouse  the  weigher  and  grader 
first  tags  the  bales  with  consecutively-numbered  tags  in  the  series 
then  current.  He  then  weighs,  grades,  and  staples  each  bale,  exam- 
ines it  for  moisture  or  damage,  and  records  the  data  upon  the 
"certificate  of  inspection,"  making  an  original  and  one  carbon 
copy.  Both  original  and  copy  are  then  sent  to  the  office,  where 
the  receipt  is  written  from  the  data  on  the  certificate.  The  orig- 
inal certificate  is  attached  to  the  receipt  only  in  case  the  form 
of  receipt  shown  in  Form  3B  is  used.  If  any  of  the  other  forms 
of  receipt  is  issued  the  original  certificate  may  be  given  to  the  storer. 
In  every  case  the  carbon  copy  of  the  certificate  of  inspection  is  filed 
in  the  consecutive  order  of  the  numbers  on  the  tags,  after  there  has 
been  noted  upon  it  the  numbers  of  the  receipts  covering  the  cotton 
listed  on  it. 

The  receipt  is  now  issued,  and  a  full  entry  of  the  details  required 
is  posted  to  the  "consecutive  tag  record"  from  the  carbon  copy  of 
the  receipt,  against  the  corresponding  tag  nimibers.  Then  the 
"individual  accoimt  record"  is  posted  from  the  carbon  copy  of  the 
receipt,  and  given  its  alphabetical  position  in  the  binder.  The 
amounts  of  the  various  fixed  charges  are  posted  in  their  respective 
columns. 

In  the  meantime  the  cotton  has  been  removed  to  its  proper  place 
in  the  warehouse  and  its  location  has  been  recorded  in  the  location 
book.  At  some  time  during  the  day  this  book  is  taken  to  the  office 
so  that  a  proper  entry  of  the  location  of  the  cotton  may  be  made  in 
the  colmnn  provided  for  it  in  the  consecutive  tag  record. 

The  operation  is  now  completed  except  for  the  making  of  the 
daily  report  and  the  monthly  determination  of  the  amoimt  earned 
on  the  lot  of  cotton  while  in  storage. 

Later,  when  the  receipt  is  presented  for  delivery  of  the  cotton,  and 
it  is  foimd  that  the  receipt  is  properly  indorsed,  and  that  a  tender 
of  all  charges  and  advances  has  been  made,  the  out-turn  order  is 
made  out  and  delivered  to  the  "outside"  man.  By  referring  to  the 
location  book  the  cotton  is  readily  located.  The  bales  are  checked 
out  and  delivered  according  to  the  order,  and  a  receipt  is  taken  which 
shows  to  whom  dehvery  was  made.  The  "outside"  man  then  signs 
the  statement  that  the  work  has  been  performed  as  ordered,  and 
the  order  is  returned  to  the  office.  The  date  of  dehvery  is  then 
recorded  in  the  columns  provided  for  it.     (See  Forms  4  and  5.) 

The  returned  receipt  is  conspicuously  marked  "Canceled"  across 
its  face  and  filed  away.  The  accumulated  out-turn  orders  are  held 
until  the  close  of  the  day,  when  they  are  used  in  determining  the 
number  of  bales  delivered  from  the  warehouse.  Proper  entries  are 
made  on  the  tickets  provided  for  the  purpose,  of  the  money  received 


lor  storage  and  other  charges,  and  of  disbiu^ements,  and  the  necessary 
entries  are  made  on  the  cash  journal  and  posted  to  the  ledger,  as 
explained  above. 

ARRANGEMENT  OF  BALES  IN  THE  WAREHOUSE. 

The  ideal  arrangement  from  the  standpoint  of  economy  in  hand- 
ling, as  well  as  insurance,  is  to  stand  the  bales  on  end  one  bale  deep. 
This  arrangement  necessitates  a  much  larger  floor  space  than  is  usually 
available;  in  case  floor  space  sufficient  for  this  arrangement  is  not 
available,  stacking  becomes  necessary.  In  storing  the  bales,  it  is 
always  advisable  to  arrange  them  so  that  the  tag  on  each  bale  will 
be  in  sight. 

If  the  bales  are  stacked,  they  may  be  arranged  in  "workway" 
formation,  that  is,  beginning  at  one  side  a  row  should  be  placed, 
then  a  space  should  be  left  for  a  narrow  aisle;  then  a  double  row 
and  an  aisle;  another  double  row,  and  an  aisle;  and  so  on. 

When  cotton  is  stored  on  dirt  floors,  and  even  on  brick  or  concrete 
floors,  it  is  always  advisable  to  stack  the  bales  on  wooden  skids  or 
stringers  in  order  to  raise  the  cotton  from  the  floor  and  thus  allow  a 
circulation  of  air.  Murch  damage  may  be  avoided  by  this  practice, 
especially  when  the  cotton  is  placed  in  the  warehouse  while  not 
absolutely  dry  or  where  the  proper  care  is  not  taken  to  provide  per- 
fect drainage. 

CONCLUSION. 

The  various  operations  necessary  in  using  the  Office  of  Markets  and 
Rural  Organization  cotton  warehouse  accounting  system  have  been 
outlined  very  briefly  in  the  foregoing  pages.  The  adoption  of  a  uni- 
form system  of  accounting  for  cotton  warehouses  should  be  of  great 
benefit  to  warehousemen  and  to  the  pubhc  who  utiUze  storage  facili- 
ties. The  system  herein  outlined  will  present  to  the  warehouseman  at 
aU  times  a  true  and  concise  record  of  the  operations  of  the  warehouse, 
and  the  simplicity  of  its  arrangement  makes  this  record  immediately 
available.  The  depositor  has  in  his  receipt  every  item  of  information 
in  regard  to  his  cotton  that  the  warehouseman  retains  on  his  records, 
and  this  should  enable  the  parties  to  avoid  all  misimderstandings  in 
this  respect. 

The  negotiable  receipts  shown  in  this  system  have  been  devised  after 
careful  study,  and  their  requirements  and  conditions  are  designed  to 
increase  negotiabihty.  Lack  of  uniformity,  especially  in  receipts, 
under  present  conditions  makes  it  impossible  for  the  small  warehouse 
of  moderate  means  to  issue  a  receipt  that  will  be  readily  acceptable 
as  collateral  for  loans  outside  of  a  limited  local  field.  The  main 
purpose  of  the  United  States  warehouse  Act  enacted  August  11, 
1916,  is  to  give  to  the  warehouse  receipt  the  greatest  possible  value 
as  collateral.    The  form  of  receipt  shown  here  embodies  the  prin- 


14 


BULLETIN  520,  U.  S.  DEPARTMENT  OF  AGRICULTURE. 


cipal  requirements  of  this  act  and  it  also  conforms  to  the  essential 
features  of  the  Uniform  Warehouse  Receipts  Act,  which  has  been 
adopted  by  32  States,  Alaska,  the  District  of  Columbia,  and  the 
PhiUppine  Islands. 

For  the  convenience  of  those  interested  in  the  system  described  in 
this  bulletin  and  for  those  who  desire  to  have  the  various  forms 
printed,  the  Department  of  Agriculture,  through  the  Office  of  Markets 
and  Rural  Organization,  wiU  supply,  without  cost,  printers'  copies  of 
the  several  forms  used  in  this  system.  Warehouses  installing  the 
system  may  refer  to  this  office  any  questions  regarding  its  installation 
or  operation.  When  it  is  possible  to  do  so,  the  Office  of  Markets  and 
Rural  Organization  will  render  such  assistance  as  may  be  required 
in  making  minor  changes  in  the  receipt  or  in  other  forms,  to  meet 
local  conditions. 


39771 


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DOE  WAREHOUSE 


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A  SYSTEM   OF  ACCOUNTS  FOB  COTTON   WABEHOUSES. 


17 


INDOKSEMENTS. 


STATEMENT  OF  LIENS. 

I  hereby  certify  that,  other  than  the  following,  there  are  no 
hens  or  mortgages  against  the  cotton  described  on  the  face  of 
this  receipt. 


{| 


(Signed) 


Id 


Witness: 


Reverse  side  Form  No.  3A. 


18 


BULLETIN  520,  U.  S.  DEPARTMENT   OF  AGRICULTURE. 


A  SYSTEM   OF  ACCOUNTS  FOE  COTTON   WAREHOUSES. 


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20 


BULLETIN  520,  U.  S.  DEPARTMENT   OF  AGEICULTtTRE, 


INDORSEMENTS. 


STATEMENT  OF  LIENS. 

I  hereby  certify  that,  other  than  the  following,  there  are  no 
liens  or  mortgages  against  the  cotton  described  in  the  attached 
certificate. 

(Signed) - 

Witness: — 


Bftvene  aide  Form  No.  80. 


A  SYSTEM   OF   ACCOUNTS  FOB  COTTON   WAREHOUSES.  21 


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STATEMENT  OF  LIENS. 

I  hereby  certify  that,  other  than  the  following,  there  are  no 
liens  or  mortgages  against  the  cotton  described  on  the  face  of 
this  receipt. 


(Signed) 


Witness 


Reverse  side  Form  No.  3E. 


24 


BULLETIN  520,  V.  S.  DEPABTMENT  OF  AGEICULTUEE. 


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p|       :     :     :     :     1     :     i     :     i     :     :     i     i     :     :     :     i     :     :     :     :     i     j 

Depositor. 

Marks. 

1&    ;  i  i  i  ;   i  i  i  :  ;  ;  i  i  i  i  i  ;   !  i  i  i  ;  • 

■5  >        :     :     :     :     : ^ — : — ; — : — : — ; — ; — : — ■ — - 

08  a         .,....'''''• •       .      I             * 

o|     i   j   j   i   j   j   j   i   i   :   :   :   :   :   !   :   !   :   :   i   :   :   i 

S        i     :     i     i     i     ::!!!     i     i     i     :     i     :::::::     : 

^        i     i     i     i     i     :     :     :     :     i     i     i     :     !     i     i     i     :     i     :     ;     :     : 

i        i     i     ::::::     i     :     i     i     i     i     i     :::::::     : 

Re- 
ceipt 
No. 



••S       i     i     i     :     i     i     i     :     !     !     !     j     ^     i     i     i     i     i     i     i     i     i     : 

■"  •> '- — • :      ; 

c8 .2 .  — ; ; : : 1^ ^ 

Depositor. 

O 

Marks. 


O        1 

*2; 

A  SYSTEM  OP  ACCOUNTS  FOR  COTTON  WAREHOUSES. 


25 


< 

January 

February... 

April 

May 

July 

September. . 

November. . 
December. . . 

i 

Ad- 
vances. 

IDUAL  ACCOUNT  RECORE 

Address 

Turn- 
ing 
out. 

: 

Weigh- 
ing. 

■-7- 

— 

Insur- 
ance. 

CQ 

"~ 

Months 

in 
storage. 

Date  of 
delivery. 

D'l-ION  WAREHOUSE  SYSTEM 
FORM  NO.  5 

INDIV 

• 

«5' 

Length 
staple. 

1 
I 

— 

O 

' 

1 

•1 

2         « 

Re- 
ceipt 
No. 

Date 
received. 

O.  M. 

Stor 

26 


BULLETIN  520,  U.  S.  DEPARTMENT  OF  AGRICULTUEE. 


O.  M.  &  R.  O.  Cotton  Wabehouse  System,  Form  No.  6. 

LOCATION. 


Original. 

1 

j             Traasfer. 

Out. 

No. 

House. 

Section 

Tier. 

House. 

Section 

.    Tier. 

1 

2 

3 

4 

ft 

6 

7 

8 

9 

0 

1 

2 

3 

4 

5 

6 

7 

8 

9 

0 

1 

2 

3 

4 

5 

6 

7 

8 

9 

0 

1 

2 

3 

4 

5 

6 

7   . 

<* 

••••••.••«• 

A  SYSTEM  OF  ACCOUNTS  FOB  COTTON  WAREHOUSES. 


27 


0.  M.  AND  B.  0.  Cotton  Warehouse  System  Form  No.  7. 

OUTTURN  ORDER. 

Date 

Turn  out  of  the  warehouse  and  dehver  to 

-\.B/C 

as  described  by  the  following  tag  numbers  and  marks: 

Tag 
No. 

Marks. 

K 

Tag      , 
No. 

Harks. 

y 

Tag 
1      No. 

Marks. 

'V 

V 

(SiffDftd^     

\KJ±^l.f 

._  — ,  _  _  —  _     — 

Work  done  f\B  ordered 
19-. 

Received  for   from 

the  above  checked b/o 

(Signed).-. 
Per._- 

the 

Doe  Warehouse 

i 


28 


BULLETIN  520,  U.  S.  DEPARTMENT   OF  AGRICULTURE. 


O.  M.  &  R.  O.  Cotton  Warehouse  System. 
Form  No.  8. 


DAILY  REPORT  OF  OPERATION 


DOE  WAREHOUSE,  — cfissr 


(State.) 


Date.. 


COTTON 


IN 

Received  previous  to  date 

Received  to-day 


OUT 


..b/c 
-b/c 


Turned  out  previous  to  date. 
Turned  out  to-day 


b/c 

b/c 


Total 

Exceptions 


Previously  carried 

New  policies 

Canceled 

Total  to-night 


Paid  out  for  labor  this  JJJ,^ 

Number  bales  handled i.  — 

Cost  per  bale  ( cents) 

CASH  RECEIPTS 


b/c 

b/c 


Number  of  bales  on  hand . 


b/c 

b/c 


INSURANCE 


s. 
%. 
I. 


Premiums 

Premiums 

Return  premiums. 

N«t 


S. 
$. 
I. 


LABOR 


CASH  DISBURSEMENTS 


Previously  reported — 
Received  to-day 

Balance. 
toNo 

S. 
.  t. 

Previously  reported 

Paid  out  to-day 

• • •    w» ••«•••• 

Total 

This  report  includes — 
Cash  receipts  No 

Total 

$ 

REMAI^KS 

- 

Cash  disbursements  No to  No. 

Duplicate  checks  No to  No. . . . 


Warehouseman. 


A  SYSTEM  OF  ACCOUNTS  FOR  COTTON   WAREHOUSES. 


29 


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30 


BULLETIN  520,  U.  S.  DEPARTMENT  OF  AGRICULTUEE. 


O.  M.  &  R.  O.  Cotton  Wareuoubs  System,                                                     CREDIT, 
Form  No.  9. 

CASH  JOURNAL. 

Miscella- 
neous. 

,  - 

8 

CO 

■ 

• 

1 

2-1 

o  g 

General 
ledger. 

Bank 
withdrawals. 

Check 
No. 

• 

a 
I 

A  SYSTEM   OF  ACCOUNTS  FOR  COTTON  WAREHOUSES. 


31 


0.  M.  &  R.  0.  Cotton  Warehouse  System. 
Form  No.  10. 

CASH  DISBURSEMENT  TICKET. 

No 

Bv                         

■*-*j 

Paid  to Date 

..,191-. 

Amount. 

0.  M.  &  R.  0.  Cotton  Warehouse  System. 
Form  No.  11. 

CASH  RECEIPT  TICKET. 

No. 
Bv         

Received  from .1 Date 

.-,191.. 

Amount. 

0.  M.  &  R.  0.  Cotton  Warehouse  System. 
Form  No.  12. 

SALE  TICKET. 

Date                       

Sold  to       

Bv      - 

i^  J --- 

TOTAT.  SALTIS • • 

*    "    '           1                1 

PUBUCATIONS  OF  U.  S.  DEPARTMENT  OF  AGRICULTURE  RELATING  TO 

MARKETING  OF  COTTON. 

AVAILABLE  FOR  FREE  DISTRffiUTION  BY  THE  DEPARTMENT. 

Studies  of  Primary  Cotton  Market  Conditions  in  Oklahoma.    (Department  Bulletin 

36.) 
Relation  of  Cotton  Buying  to  Cotton  Growing.    (Department  Bulletin  60.) 
Economic  Conditions  in  Sea  Island  Cotton  Industry.    (Department  Bulletin  146.) 
Cotton  Warehouses:    Storage  Facilities  now  Available  in  the  South.    (Department 

Bulletin  216.) 
Cotton  Warehouse  Construction.    (Department  Bulletin  277.) 
Disadvantages  of  Selling  Cotton  in  the  Seed.    (Department  Bulletin  375.) 
Relation  Between  Primary  Market  Prices  and  Qualities  of  Cotton.     (Department 

Bulletin  457.) 
A  Study  of  Cotton  Market  Conditions  in  North  Carolina  with  a  View  to  Their  Improve- 
ment.   (Department  Bulletin  476.) 
Cotton  Ginning  Information  for  Farmers.     (Farmers'  Bulletin  764.) 
Losses  from  Selling  Cotton  in  the  Seed.    (Farmers'  Bulletin  775.) 
Cotton  Improvement  on  a  Community  Basis.     (Separate  579  from  Yearbook  1911.) 
Improved  Methods  of  Handling  and  Marketing  Cotton.     (Separate  605  from  Year- 
book 1912.) 

FOR  SALE  BY  THE  SUPERINTENDENT  OF  DOCUMENTS,  GOVERNMENT  PRINTING 

OFFICE,  WASHINGTON,  D.  C. 

Cotton,  the  Greatest  of  Cash  Crops.    (Office  of  the  Secretary  Circular  32.)    Price  5 

cents. 
Controlling  the  Boll  Weevil  in  Cotton  Seed  and  at  Ginneries.    (Farmers'  Bulletin 

209.)    Price  5  cents. 
A  Profitable  Cotton  Farm.    (Fanners'  Bulletin  364.)    Price  5  cents. 


// 


ADDITIONAL  COPIES 

OF  THIS  PUBLICATION  HAT  BE  PROCX7RED  rBOH 

THE  SUPERINTENDENT  OF  DOCUMENTS 

GOVERNMENT  PRINTINO  OFFICE 

WASHINOTON,  D.  C. 

AT 

6  CENTS  PER  COPY 


Date  Due 


9 


2>(«»C>'^ 


Newton 


•o^rewjuuv 


N4*1 


■^  A  system  of  accounts  f or^cotton 

i=war©houses    "" '"'"" '  ^jt^ I 


1 


(1925 


MAY  9 


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COLUMBIA  UNIVERSITY  LIBRARIES 


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END  OF 

TITLE 


